Citigroup Hikes JPMorgan Chase & Co. (JPM)’s Price Target To $275, Maintains Neutral Rating

JPMorgan Chase & Co. (NYSE:JPM) is among the Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy. On June 26, Citigroup lifted the stock’s price target from $250 to $275, while maintaining a Neutral rating for its shares.

Citigroup Hikes JPMorgan Chase & Co. (JPM)'s Price Target To $275, Maintains Neutral Rating

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The revision reflects Citigroup’s decision to reduce its cost of equity assumption to 9.4%, aligning with the option market’s current implied volatility. Moreover, analysts expect investors to focus on JPMorgan Chase & Co. (NYSE:JPM)’s net interest income heading into its second-quarter earnings call in July, given that consensus estimates already exceed the bank’s full-year guidance.

Analysts also noted JPMorgan Chase & Co. (NYSE:JPM)’s management providing clear expense guidance, with Wall Street and the research firm’s estimates both in line with the company’s forecast.

JPMorgan Chase & Co. (NYSE:JPM) provides a range of investment banking and asset management solutions for a diverse client base. For the past four years, it has been the largest bank in the U.S. for retail deposits. The stock has had impressive year-to-date returns of nearly 20%.

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